Funding arb · Price arb /

AAVE

all AAVE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0296%/8h= +32.4% APRpaid last 24h +0.084%

Price spread now: Coinbase International against Kalshi+0.715%7-day average +0.153% · you sell dearer than you buy

Net, funding: paid 7d − costs−$21as in the Funding arb table

Net, price: spread back to 7d avg − costs−$1as in the Price arb table

costs, in and out, $10k−$580.577% of the position

Long on Kalshi Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.362%+$36 on $10k

Price spread, last 3 days (all we have)−0.662%−$66 · spread now +0.715%, 7d avg +0.153%

Together, before fees−0.300%−$30 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and Coinbase International is 0.562% dearer against Kalshi than usual: you sell high and buy low: +$56 more if the spread goes back to its 7-day average of +0.153%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXAAVEPERP	145.38	0	get 0.0000% / 8h	3h 05m	$65K	$1.5M	3.4x
Short	Coinbase International AAVE-PERP-INTX	146.42	0.0296	get 0.0037% / 1h	5m 02s	$784K	$2.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Kalshi. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee KalshibpFee Coinbase InternationalbpOrdersPrice spread, now +0.715%Rate

Funding earned: $62.16
Price spread: +0.715% → +0.153%: $56.22
Slippage, 4 orders: −$37.69
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $60.7
Costs to cover: 0.577%
Break-even: 0.2 days

Slippage from Kalshi: live order book, 3 min ago; Coinbase International: live order book, 4 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Kalshi live order book, 3 min ago	7.18 bp	12.2 bp −$12	18.2 bp −$182	doesn't fit	doesn't fit
Sell Coinbase International live order book, 4 min ago	6.15 bp	14.1 bp −$14	19.6 bp −$196	doesn't fit	doesn't fit

AAVE on 42 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_AAVEUSD	−0.0185%	1h	145.60	+0.148%	$3.5M	$2.0M	50x	as long as short
01 Exchange AAVEUSD	−0.0136%	1h	145.50	+0.083%	$11K	$2K	5x	as long as short
SoDEX AAVE-USD	−0.0043%	1h	145.49	+0.076%	$5K	$302K	10x	as long as short
dYdX AAVE-USD	0.0000%	1h	145.45	+0.048%	$104K	$4K	10x	as long as short
Kalshi KXAAVEPERPlong	0.0000%	8h	145.38	long leg	$65K	$1.5M	3.4x
Phoenix AAVE	0.0000%	1h	146.22	+0.578%	$5K	$102K	10x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	145.52	+0.096%	$254K	$367K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	145.51	+0.088%	$70K	—	150x	as long as short
MEXC AAVE_USDT	+0.0026%	8h	145.88	+0.344%	$28.5M	$26.0M	200x	as long as short
Binance AAVEUSDT	+0.0027%	8h	145.58	+0.139%	$65.9M	$183.2M	75x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−5.792%	$422	$51K	12x	as long as short
Orderly PERP_AAVE_USDC	+0.0044%	8h	145.49	+0.076%	$18K	$10K	10x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	145.45	+0.046%	—	—	20x	as long as short
OKX AAVE-USDT-SWAP	+0.0064%	8h	145.67	+0.199%	$17.7M	$66.1M	50x	as long as short
ApeX Omni AAVEUSDT	+0.0065%	1h	146.47	+0.750%	$136K	$231K	50x	as long as short
Aevo AAVE-PERP	+0.0088%	1h	145.53	+0.103%	$123K	$146	10x	as long as short
Lighter AAVE	+0.0096%	1h	145.73	+0.240%	$4.7M	$1.5M	10x	as long as short
Phemex AAVEUSDT	+0.0099%	8h	145.54	+0.110%	$4.2M	$3.8M	50x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	145.47	+0.065%	$14K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	145.47	+0.062%	$797K	$423K	10x	as long as short
Hyperliquid AAVE	+0.0100%	1h	145.66	+0.193%	$79.4M	$35.4M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	145.49	+0.076%	$1.3M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	145.47	+0.059%	$332K	$469K	10x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	145.67	+0.199%	$62.4M	$64.8M	75x	as long as short
Arcus AAVE-USD	+0.0100%	1h	145.51	+0.089%	$46K	$246K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	145.56	+0.124%	$7.9M	$15.4M	75x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	145.71	+0.227%	$11.0M	$9.1M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	145.63	+0.172%	$30.2M	$18.0M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	145.53	+0.103%	—	$44.1M	—	as long as short
Backpack AAVE_USDC_PERP	+0.0100%	1h	145.65	+0.186%	$332K	$742K	10x	as long as short
Variational Omni AAVE	+0.0100%	8h	145.38	−0.001%	$3.8M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	146.11	+0.503%	$105K	$317K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	146.52	+0.784%	$466K	$3.7M	10x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	145.53	+0.103%	$126K	$416K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	145.47	+0.058%	$1K	$1.3M	20x	as long as short
HTX AAVE-USDT	+0.0100%	8h	145.60	+0.151%	$707K	$5.2M	75x	as long as short
Bulk AAVE-USD	+0.0100%	1h	146.28	+0.619%	$59K	$2K	10x	as long as short
Extended AAVE-USD	+0.0104%	1h	145.64	+0.179%	$934K	$1.7M	50x	as long as short
RISEx AAVE/USDC	+0.0107%	1h	145.53	+0.103%	$184K	$245K	10x	as long as short
BloFin AAVE-USDT	+0.0109%	8h	145.51	+0.089%	$3.5M	$3.5M	100x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0235% / S −0.0373%	1h	145.51	+0.089%	$130K	—	100x	as long as short
Coinbase International AAVE-PERP-INTXshort	+0.0296%	1h	146.42	+0.715%	$784K	$2.9M	50x